QSR Brands, parent of Pizza Hut Malaysia, plans to relist, raising more than US$400 million.

The company is Malaysia’s largest fast food operator with more than 450 Pizza Hut restaurants in Singapore and Malaysia. It has the sole KFC franchise rights for Malaysia, Singapore, Cambodia, and Brunei.

The Wall Street Journal reports the company will prepare to accept bids this month (September), but the exact size of the offer has yet to be finalised. Majority shareholder, state government-owned Johor Corp, with a 51 per cent slice of the business, may hold onto its investment for the time being.

ASR Brands was taken private for $1.3 billion by a consortium led by private equity firm CVC Capital Partners in 2012. The other significant investor is Malaysia’s Employees Provident Fund.

The most recent major Malaysian IPO in the consumer sector was 7-Eleven Malaysia Holdings, which raised $225 million in 2014.